Get all your news in one place.

100's of premium titles.
One app.

Start reading

Get all your news in one place.

100's of premium titles. One news app.

Start reading

The Latest Breaking News from the Financial Ombudsman Service

Ombudsman sees more than 500 romance scam complaints

Being the victim of a fraud or scam can be ‘deeply distressing’, the Financial Ombudsman Service said.

Evening Standard

Ombudsman service shake-up ‘will help fast and fair response to consumer gripes’

Legislation will be brought forward to reform the legislative framework that governs the Financial Ombudsman Service.

Evening Standard

Ombudsman seeing thousands of complaints related to job and investment scams

Worries about finances can make it easier for fraudsters to tempt people by promises of ‘easy money’, the Financial Ombudsman Service said.

Evening Standard

From analysis to the latest developments in health,
read the most diverse news in one place.

Monzo wrongly denied refunds to thousands of fraud and scam victims

Ombudsman found bank wrongly rejected 34% of complaints last year, with NatWest and HSBC close behind

The Guardian - UK

Financial ombudsman sees steadier complaint levels after ‘extraordinary demand’

The service said it is seeing better evidenced complaints from professional representatives and fewer motor finance commission complaints.

Evening Standard

Insurer won’t pay out after medical emergency forced us to cancel wedding

We have now lost £22,000 and now can’t afford to book a new date for the ceremony

The Guardian - UK

New online fraud checker tool launched after 800,000 people fall victim to scammers

The FCA want people to ensure companies they are planning to send money to are legitimate

The Independent UK

Read news from The Economist, FT, and more,
with one subscription

People considering investments opportunities urged to use new firm checker tool

Around 800,000 people reported losing money to investments or pensions‑related scams in the 12 months to May 2024, the FCA said.

Evening Standard

Investment scams pushing up amount of money being lost to APP fraud – UK Finance

The average loss per authorised push payment case in the first half of this year was £2,325, but for investment scams it was £15,098, UK Finance said.

The Independent UK

FCA Car Finance Compensation Scheme: Why Millions Might Miss Out — and How to Make Sure You Don't

The FCA will launch a major car finance compensation scheme in 2025, refunding drivers mis-sold loans since 2007. Acting early could secure your share of the payout.

International Business Times UK

Shoddy tradeswork sparking more than 700 complaints a week – Citizens Advice

Of the 36,534 complaints received over the last year, 5,230 of those (14.3%) involved scams or rogue traders.

Evening Standard

Ombudsman receives fewer complaints about scams and ‘unaffordable’ lending

There was also a fall in complaints about motor finance commission in the Financial Ombudsman Service’s latest quarterly figures.

Evening Standard

Buy now, pay later consumer protections proposed by Financial Conduct Authority

Borrowers will have more transparency over their loans and be able to complain to the ombudsman if something goes wrong, under the proposals.

Evening Standard

Buy now, pay later lenders will soon have to check shoppers can repay loans

Lenders are urged to enforce stronger checks on buy now, pay later affordability

The Independent UK

Get all your
news in one place.

100's of premium titles.
One news app.

Evening Standard

Financial ombudsman rebuked by MPs over handling of ex-chief’s ‘dismissal’

MPs said Baroness Manzoor’s letter was ‘unnecessary and disrespectful’ after she declined to answer questions about the departure.

Evening Standard

Ombudsman proposes changes to interest levels applied to compensation

The ombudsman can currently direct businesses to pay 8% interest on top of the compensation for the period their customer was out of pocket.

Evening Standard

‘High numbers’ of motor finance commission complaints seen by ombudsman service

The Financial Ombudsman Service said it is putting steps in place to ensure it can resolve motor finance commission gripes ‘as quickly as possible’.

Evening Standard

Ombudsman service is handling more than 60,000 motor finance commission cases

The number of cases represents ‘quite a significant block of work’ MPs on the Treasury Committee were told.

Get all your
news in one place.

100's of premium titles.
One news app.

Evening Standard

Financial ombudsman to charge claims management firms £250 to refer a case

The move aims to make funding arrangements fairer and encourage professional representatives to submit better-evidenced complaints, the service said.

The Independent UK

Financial Ombudsman Service chief quits months after Reeves’ call for reform

Abby Thomas has stepped down following criticism over the ombudsman service’s role in the motor finance commission scandal.

Evening Standard

Scams set to account for third of banking and loan cases in 2025-26 – ombudsman

The Financial Ombudsman Service said crimes can be complex and incredibly convincing, and no-one should be afraid to come forward.

The Independent UK

Scams and fraud expected to account for a third of cases taken to finance ombudsman this year

The Financial Ombudsman Service encouraged those affected to step forward to help solve ‘complex’ cases

The Guardian - UK

Uncertainty over UK car finance scandal is putting off investors, warn CEOs

Industry figures say unknown compensation bill makes it ‘difficult to operate’ owing to fears of ‘retrospection’

Evening Standard

Fraud and scam complaints at highest quarterly level recorded – ombudsman

The Financial Ombudsman Service said it is seeing increasingly complex complaints with funds passing through several banks.

Evening Standard

Issues with mass financial complaints to be put under spotlight

Sudden and significant increases in complaints can cause firms to struggle to effectively respond, delaying any customer redress, the ombudsman said.

1 2

People

From analysis to the latest developments in health,
read the most diverse news in one place.

Organisations

the Financial Conduct Authority

the Treasury Committee

55 stories

the Financial Ombudsman Service

Financial Ombudsman Service

14 stories

Read news from The Economist, FT, and more,
with one subscription

Topics

Places

Fourteen days free

Download the app

One app. One membership.
100+ trusted global sources.